The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) dropped 1.1% during trading on Monday . The company traded as low as $4.00 and last traded at $4.02. Approximately 85,187 shares were traded during mid-day trading, an increase of 70% from the average daily volume of 50,204 shares. The stock had previously closed at $4.07.
The Gabelli Convertible and Income Securities Fund Trading Up 1.6 %
The firm has a fifty day moving average price of $3.83 and a two-hundred day moving average price of $3.77.
The Gabelli Convertible and Income Securities Fund Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 11.78%.
Hedge Funds Weigh In On The Gabelli Convertible and Income Securities Fund
Hedge funds have recently added to or reduced their stakes in the company. M&R Capital Management Inc. increased its holdings in shares of The Gabelli Convertible and Income Securities Fund by 316.9% in the 3rd quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company's stock worth $29,000 after purchasing an additional 5,904 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the 3rd quarter worth about $39,000. Shaker Financial Services LLC purchased a new position in The Gabelli Convertible and Income Securities Fund in the 3rd quarter worth about $52,000. Hoylecohen LLC purchased a new position in The Gabelli Convertible and Income Securities Fund in the 2nd quarter worth about $128,000. Finally, World Investment Advisors LLC bought a new position in The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at about $405,000. 23.40% of the stock is currently owned by hedge funds and other institutional investors.
About The Gabelli Convertible and Income Securities Fund
(
Get Free Report)
The Gabelli Convertible and Income Securities Fund Inc is a closed-ended balanced mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity and fixed income markets. The fund seeks to invest in stocks of companies operating across diversified sectors.
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